Mumbai: Hindustan Petroleum Corporation Limited (HPCL) and Thermax have signed a Memorandum of Understanding (MoU) at India Energy Week (IEW) 2026 in Goa to jointly work on clean and new energy technologies.
The collaboration aims to support India’s energy transition by developing and commercialising emerging low-carbon solutions. As part of the partnership, the two companies will focus on technologies such as HP AEM electrolysers, carbon dioxide (CO₂) capture solutions, and bio-pyrolysis oil processing.
Under the MoU, HPCL will bring its process innovation and research and development capabilities, while Thermax will contribute its engineering expertise and experience in industrial-scale implementation. The companies said the partnership is expected to help in translating advanced technologies into commercially viable and scalable solutions.
The agreement also strengthens the commitment of both organisations to the ‘Make in India’ initiative, with a focus on developing indigenous technologies that can reduce dependence on imports and support sustainable growth.
HPCL and Thermax said the collaboration aligns with the broader national objective of advancing clean, affordable and low-carbon energy systems, and will play a role in supporting Bharat’s long-term energy security and climate goals.